What Should I Do With My Life? It’s a great question. To get some answers, I talked to Sam, a friend of mine, from FinancialSamurai.com. I’m using his services to help me sort out a few things in my life, including what I should focus my talent and ability in. I’ve certainly tried a few things from websites to games to mobile apps to writing a book. I still feel like I’m not sure which is right for me, or perhaps that is procrastination from putting in effort. Regardless, Sam helped me organize my thoughts. I won’t share what we talked about specifically so as to keep that information between us. But the result of the conversation is my thoughts here.
Stay With That Good Paying Job
I’m at a day job as a web developer that I don’t mind. There is a ladder chain that I have the opportunity to try and climb and earn more money, achieve more influence, and in general, improve myself and the company more. There is no reason to leave a job that offers me great pay, benefits, 401K retirement with matching, and a chance to move up in the company. My goal there is to progress from where I am to a team leader and then director in the next five years.
This is sort of scary for me right now to think about. Five years seems like such a short time. But then again, I’ve only been at the company just four years now. So I think there’s plenty of time. I think I need to find a team leader role in the next two years, no question. If I have to carve out that role for myself, then so be it. But it’s going to require me getting to know people. And not just work talk – actual regular people talk over lunch and things like that. I’ll admit I’m not very good at this part of socializing. But I can see the case of why people promote people they know first because of trust. I think the same concept applies to the upcoming election. President Obama is the devil we know and what we can expect is known from him.
If You Can Find Good Real Estate, Invest
Housing has come down significantly in price and interest rates are at all time lows. This means the cost to own a property is lower now than it has been in many years. And if I can find a good property to rent and take care of, and real estate continues to go up in price over time, it seems like a win-win situation. Sure there is the challenge to rent and keep the property fixed up along with the chance real estate could continue to plummet. But people need space to live and I think these are minor challenges to owning a property at a good price in a good location.
I think of paying $30,000 down for a $150,000 property and then at least breaking even in rent, repairs, and possible management costs over 30 years, even though I think I could do better. Let’s say in 30 years the property now is worth $250,000. That means in 30 years, my $30,000 has basically turned into $250,000 that is now paid off and is constantly paying me each month… Plus, rent likely is going up over time. As such, my wife and I are looking to buy the right piece of real estate, but we are making sure to be very careful and do our homework.
Right now, as of last month, I’m maxing out my 401K. It’s money that gets put into an account and I don’t have to think about it. Sure it’s in mutual funds and the amount goes up and down. Sure the government could take it all. To live is to risk though, and because I can do this, I will. I’m also going to talk to Heidi about saving more each month both for rainy day savings, and for investing. The goal is to save until it hurts.
Find My Niche
I feel inside me that I’m supposed to contribute something to this world. I’ve tried many things. From a website selling computer games in 2004 to some mobile apps and games to my life coaching website at drjerm.com, there’s been about 10 projects I’ve tried, but none have helped me live financially independent. But I’ve never had a great passion for something that has stayed with me for a long period of time either. I’ve been compiling a list of things that I think might fit the bill for the future:
- Teaching the billions of people who will come online in the next 10 years how to live successfully in today’s world.
- A medical app that quickly gets you the information you need.
- A mobile/tablet game to learn HTML and other technology related things.
- A new website dedicated to my desire to be financially resourceful 5 years from now.
- Continuing my writing here about my journey to be a director at my day job.
These are the main one’s. I really like the idea of reaching the billions of presently unbleached internet users who will come online. I could see a free service or inexpensive paid service being of great benefit to them, particularly in how to use the internet, what websites to go to, who to listen to, how to speak, write, communicate, etc… These skills are so vital in the world today…
Getting a mentor or a coach is significant. Sam’s helped me get that spark back again. I think everyone needs a good mentor. Sam has been mine since he started his website about 3 years ago. I’m looking forward to the future and what I might be able to do :)
- Passive Income for a Noobie
- The Future of My Website
- When Starting Out, You’ll Likely Be Terrible At It
- Fear of Competition